MoPSW clears a plan to restructure development of a marina at Princess Dock

As per reports, the Ministry of Ports, Shipping and Waterways (MoPSW) has cleared a plan to restructure the development of a marina at Princess Dock in Mumbai Port. With an estimated cost of approximately Rs 5.75 billion, the project will be implemented on a public-private partnership (PPP) basis, with a concession period of 45 years. Earlier, the project was unable to take off due to a lack of bidder interest, forcing the port authority to restructure it. The project will promote tourism and drive economic growth and social development in their respective regions.